Have you tried to understand the financial advice market? If so, you’ll know it’s confusing. For instance, the ANZ bank announced last week it is selling its financial advice division for $975m to another financial services firm called IOOF. Eight years ago, the ANZ...
Advice professionals don’t take commissions. The latest twist in the Future of Financial Advice exposes even more what the real debate is about – trust. Not reducing red tape. ASIC reckoned a couple of years ago only 18% of Australians sought out an adviser. Last year...
Gates in our client conversations. If you’re not looking for them you have to be lucky to stumble upon one… Some advisers have made the decision never to open them even if they do notice them. They prefer the conversational paths that they are used to. Their paths...
Want to make money next year? Here’s a thought – change your ‘client review meetings’ to ‘client re-discovery meetings’. Make it an aim for the clients to have a ‘discovery’ during their next annual client re-discovery meeting. Why? Because it will engage your clients...
I recently met with the head of a large and successful brokering group. Let’s call him George. George said that his brokers didn’t want to get into discussions with clients about their long term goals. That’s a distraction from what they do which was delivering great...
When offering advice, there’s only one sure way to consistently ‘beat’ a competitor’s pricing… Offer more value. Advice clients don’t want your products, they don’t even want your advice. They just want their outcomes. Your advice is a means to an ends, that’s all. To...